§ Mr. WESTasked the Minister of Transport the amount of profit and the rate of dividend per cent. declared by the 1903W Notting Hill Electric Company, Limited, for 1928, together with the amount paid in wages for that year?
§ Mr. HERBERT MORRISONThe amount of profit, after allowing for interest on loan liabilities and for statutory payments to sinking funds, was approximately £32,600. The rate of dividend on preference capital was 6 per cent. On each of the deferred shares (nominal value 1s.) the dividend was 14s. 4d. The deferred shares, however, amount to a sum of £1,352 10s. only, out of a total share capital employed in the undertaking of £201,352; the average return on the share capital as a whole being 15.6 per cent. The amount paid in wages and salaries in the year 1928 was approximately £13,800 (wages alone £7,800), but this does not include any wages in connection with generation as energy was purchased in bulk.
§ Mr. WESTasked the Minister of Transport the cost of management per unit, total cost, and average revenue per unit of electricity sold in 1928 by the Poplar Borough Council and the Notting Hill Electric Lighting Company, Limited, respectively?
§ Mr. HERBERT MORRISONIn view of the difference in the nature of the supplies given by the two undertakings, it is difficult to give strictly comparable figures. The cost of management at Poplar was £1.26 per consumer and.096d. per unit, and at Notting Hill £1.08 per consumer and 0.36d. per unit. The total cost of energy at Poplar, including capital charges, was approximately 0.83d. per unit sold, the load factor being 31 per cent., and at Notting Hill, where the supply was purchased in bulk, 1.2d. per unit, the load factor being 24 per cent. The average revenue per unit at Poplar was for lighting and domestic supplies 2.63d. and for power 1.23d., while at Notting Hill the average for lighting and domestic supplies was 4.7d. and for power 1.52d.